The Chinese tech giant acquired the stake from Perwyn, a private equity business and investor which retains a 17.38% interest in Sumo Digital.
Steven Ma, head of Tencent Games, said: “We are glad to invest in Sumo Group, a leading independent co-development studio. We look forward to supporting Sumo’s growth and exploring collaborations with the company to bring more interactive entertainment experiences to global audiences.”
Carl Cavers, CEO of Sumo Group, said: “When Perwyn invested in Sumo Digital in September 2016 we were a private company with annual revenue of around £24m and operated from three studios in two countries.
“We are now a public company and, following the recent announcement of our new studio in Warrington in the north west of England, now have ten studios in three countries and reported revenue of more than £38m for the year ended 31 December 2018.”
The company announced in July that it’s working on multiple undisclosed projects for Borderlands publisher 2K.
Chinese tech giant Tencent’s globalisation strategy has been led by investments in and partnerships with video game companies.
It’s also currently helping Nintendo launch Switch in the Chinese market, and reportedly wants to develop console games using Nintendo characters in a bid to grow its business in the US and Europe.